Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the Company Default on its debts, sending shockwaves across the Global Financial system and triggering a string of defaults from builders who owed money to evergrande or expected them to complete some contracts. We have seen 40 or the companies t
Mexican and colombian cartels have infiltrated local gangs as they vie for lucrative drugs routes. Ecuador was hit hard by covid and theyve taken advantage of a country broken by a pandemic and by corrupt politics. The police are at pains to show me theyre fixing the problem, but when theyre having to protect themselves with sandbags in the police station, you realise this is a war without end. This used to be one of the main routes for traffickers. People would come up here with Stolen Phones and jewellery and exchange those goods for drugs up here, but the police have taken back this area. That said, the police have lost so much more control of the city of guayaquil. The bars on all the windows in this neighbourhood tell you all you need to know about the lack of security here. Angie fears for her four children. The police are powerless, she says. Just two weeks ago her neighbour was shot dead outside his daughters school. Translation all i want is security, thats the only thing that
how the government allows this to play out whether it is an american style crunch or a japanese style long play out. here we have further evidence of a heavily intervened and slower play out. slower play out. took us through slower play out. took us through what slower play out. took us through what you - slower play out. took us through what you see i slower play out. took us - through what you see happening in the months and years ahead? some of those measures you talked about already limiting the ability of these developers to borrow. some of them seem to have come quite late in the game. have come quite late in the name. ., have come quite late in the iame. ., , have come quite late in the name. ., , ., ,, game. so, what is happening in the last 18 game. so, what is happening in the last 18 months, game. so, what is happening in the last 18 months, of - game. so, what is happening in the last 18 months, of course, l the last 18 months, of course, globally, is a huge ri
over lending and developing has been going on everywhere for centuries. the issue really is how the government allows this to play out, weather it is a more american style crunch or a jab weather it is a more american style crunch orajab and weather it is a more american style crunch or a jab and ice japanese style long play out. here we have evidence of a longer, slower play out. banks will be fined if they fail to provide free access to cash withdrawals for consumers and businesses under new plans by the treasury. the policy aims to ensure people don t have to travel more than three miles in rural areas to take out money or make deposits. here s our cost of living correspondent kevin peachey. the use of cash in our day to day lives is declining. contactless cards and digital payments on smartphones mean we may have less need to visit an atm or bank branch, but the government says cash can t be left to die out. cash is important.